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Rubber rises on Aug.16

Tokyo Commodity Exchange (TOCOM) futures rose on Friday as investors' risk appetite increased after Asian shares found some footing, oil prices rallied and Thailand's stimulus plans offered support, but they still booked a weekly loss. The benchmark TOCOM rubber contract for January delivery finished 2.8 yen, or 1.7%, higher at 168.8 yen ($1.59) per kg. For the week, it booked a 0.2% drop, hit by growing concerns over recession risk.

The most-active rubber contract on the Shanghai futures exchange for September delivery fell 45 yuan to finish at 11,375 yuan ($1,615) per tonne. China's new technically specified rubber (TSR) 20 futures contract was last down 30 yuan at 9,875 yuan per tonne. Rubber inventories in warehouses monitored by the Shanghai Futures Exchange rose 0.7% from last Friday, the exchange said on Friday.

TOCOM's TSR 20 futures contract for February delivery closed unchanged at 145.4 yen per kg. The front-month rubber contract on Singapore's SICOM exchange for September delivery last traded at 130.4 US cents per kg, up 0.5%.

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